
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-1251784454-820x547.jpg" alt="" class="wp-image-564339" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-1251784454-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-1251784454-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-1251784454-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-1251784454-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-1251784454-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/GettyImages-1251784454-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">The World Bank Group headquarters during the spring meetings of the International Monetary Fund (IMF) and World Bank in Washington, DC, US, on Thursday, April 13, 2023. The IMF trimmed its global-growth projections, warning of high uncertainty and risks as financial-sector stress adds to pressures emanating from tighter monetary policy. Photographer: Samuel Corum/Bloomberg via Getty Images</figcaption></figure>



<p>WASHINGTON, April 22 (Reuters)&nbsp;&#8211;&nbsp;Given big cuts in development aid by Europe and the United States, think tanks and other groups are urging the World Bank to reduce the equity-to-lending ratio of its main lending arm to free up billions in additional lending capacity.</p>



<p>Reducing the equity to lending ratio of the International Bank for Reconstruction and Development to 17% from 18% would allow the bank to boost its lending capacity by $30 billion to $40 billion without burdening taxpayers or shareholders, or jeopardizing its capital reserves, said Eric Pelofsky, vice president of the Rockefeller Foundation.</p>



<p>He said a large portion of these new resources could be used to provide loans to help governments rapidly address actual or anticipated budget gaps and shore up health-care networks, water and sanitation systems, or other critical public systems impacted by foreign aid cuts.</p>



<p>The bank could also offer short-term, low-interest loans to non-governmental organizations facing program cancellations, layoffs, and even bankruptcy that would help them bridge to new long-term funding models, Pelofsky said.</p>



<p>The World Bank voted last year to change its internal lending guidelines and lower its equity-to-lending ratio by 1 percentage point as part of reforms recommended by an independent commission for the Group of 20 major economies. It took a similar step in 2023, dropping the ratio to 19% from 20%.</p>



<p>Since U.S. President Donald Trump returned to office in January for a second term, his administration has cut billions of dollars in foreign assistance in a review that aimed to ensure programs align with his &#8220;America First&#8221; foreign policy. European governments have also cut their foreign aid budgets.</p>



<p>&#8220;Inaction will have concrete consequences,&#8221; Pelofsky said, citing studies which say U.S. foreign aid cuts could put millions of lives at risk.</p>



<p>Jubilee USA Network, a religious development group, said it backs the push, and it urged the World Bank to act quickly.</p>



<p>&#8220;The World Bank can and should make this decision as soon as possible,&#8221; said Eric LeCompte, the group&#8217;s executive director and a United Nations adviser. &#8220;With the significant cuts we&#8217;ve seen from the U.S. and Europe on development aid, this action by the World Bank can fill this aid gap.&#8221;</p>



<p>(Reporting by Andrea Shalal; Editing by Leslie Adler)</p>


Spring Meetings Of The International Monetary Fund And World Bank

World Bank urged to reduce equity-to-loan ratio to free up funds for poor countries


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-820x547.jpg" alt="" class="wp-image-423556" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Illustration photo shows a two-rand coin above a South African flag April 12, 2017.   REUTERS/Thomas White/Illustration</figcaption></figure>



<p>JOHANNESBURG, April 22 (Reuters)&nbsp;&#8211;&nbsp;The South African rand firmed early on Tuesday, ahead of the release of a key economic indicator by the country&#8217;s central bank.</p>



<p>At 0636 GMT the rand traded at 18.70 against the dollar, roughly 0.3% stronger than its previous close on Monday.</p>



<p>The central bank will publish its composite leading business cycle indicator around 0700 GMT, providing data that includes vehicle sales, business confidence and money supply in Africa&#8217;s most industrialised nation.</p>



<p>The risk-sensitive rand has endured bouts of volatility, hurt by political disputes between the two biggest parties in the coalition government &#8211; the African National Congress (ANC) and the Democratic Alliance (DA) &#8211; over a proposed increase to value-added tax on May 1.</p>



<p>The DA and other smaller parties have publicly rejected the proposal and filed a court case challenging the legality of the budget process. The case will be heard at on Tuesday.</p>



<p>South Africa&#8217;s benchmark 2030 government bond was weaker in early deals, with the yield up 4.5 basis points at 9.215%.</p>



<p>(Reporting by Sfundo Parakozov; Editing by Bhargav Acharya and David Goodman)</p>


Illustration photo of South African rand

South African rand firms ahead of economic data


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>April 22 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.</p>



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



<p>Kenya&#8217;s President William Ruto will meet his Chinese counterpart Xi Jinping during a state visit to Beijing.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian stock markets fought to hold their footing on Tuesday after a furious flight from U.S. assets undermined Wall Street and the dollar, while concerns about the independence of the Federal Reserve piled fresh pressure on Treasuries.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices climbed in early trade on Tuesday as investors took advantage of the previous day&#8217;s losses to cover short positions, although concerns persisted over economic headwinds from tariffs and U.S. monetary policy that could dampen fuel demand.</p>



<h2 class="wp-block-heading" id="h-south-sudan-security">SOUTH SUDAN SECURITY</h2>



<p>South Sudan&#8217;s army said it had recaptured a key town in Upper Nile state that it lost to an ethnic Nuer militia in March in clashes which led to the arrest of First Vice President Riek Machar and a spiralling political crisis.</p>



<h2 class="wp-block-heading" id="h-nigeria-violence">NIGERIA VIOLENCE</h2>



<p>The Islamic State West Africa Province (ISWAP) has claimed responsibility for a series of deadly attacks targeting Nigerian security forces as well as Christian civilians in Nigeria’s northeastern regions earlier this month.</p>



<p>((Compiled by Nairobi Newsroom))</p>


World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on April 22


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-820x547.jpg" alt="" class="wp-image-505639" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-768x513.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A South African one rand coin sits on South African rand banknotes in this arranged photograph in Pretoria, South Africa, on Wednesday, Aug. 14, 2019. The rand ended a tumultuous week on a positive note, gaining against the dollar for a second day and heading for its first weekly advance in four as technical indicators suggested recent declines are overdone. Photographer: Waldo Swiegers/Bloomberg via Getty Images</figcaption></figure>



<p>JOHANNESBURG, April 17 (Reuters) &#8211; South Africa&#8217;s rand weakened early on Thursday against a firmer dollar, as markets awaited information on U.S. tariffs and local investors looked for news on the future of the coalition government.</p>



<p>At 0635 GMT, the rand traded at 18.8550 against the U.S. dollar, about 0.2% weaker than its previous close.</p>



<p>The dollar last traded about 0.3% stronger against a basket of currencies.</p>



<p>&#8220;Ahead of the Easter long weekend, investors will be reluctant to take on any significant market position. There are so many daily changes that doing so would be risky,&#8221; ETM Analytics said in a research note.</p>



<p>U.S. President Donald Trump met with Japanese officials on Wednesday, in one of the first rounds of face-to-face talks since his tariffs on most countries roiled markets and stoked recession fears.</p>



<p>Markets were also processing comments from Federal Reserve Chair Jerome Powell, who warned of the risk of slowing growth and rising prices due to tariffs.</p>



<p>Like other risk-sensitive currencies, the rand takes direction from global drivers such as U.S. economic policy in addition to domestic factors.</p>



<p>Local investors will eye developments around a budget stand-off between the two biggest parties in the coalition government, the African National Congress (ANC) and the Democratic Alliance (DA), over a proposed value-added tax (VAT) hike on May 1.</p>



<p>The pro-business DA voted against the budget&#8217;s fiscal framework in parliament and is challenging the VAT hike in court, raising concerns among investors over the stability of the coalition government.</p>



<p>&#8220;All of (South Africa&#8217;s) domestic political developments are not taking place in isolation. On the contrary, if left unresolved, they may compound an already uncertain international environment,&#8221; ETM Analytics said.</p>



<p>&#8220;The ZAR is therefore expected to trade cautiously with one eye on local developments and the other on the performance of the USD.&#8221;</p>



<p>South Africa&#8217;s benchmark 2030 government bond was firmer in early deals, with the yield down 2 basis points to 9.16%.</p>



<p>(Reporting by Tannur Anders; Editing by Jamie Freed)</p>


South African Rand Rebound Snaps Streak of Weekly Losses

South African rand weaker as markets await tariff, local government news


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>NAIROBI, April 17 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian stocks wavered on Thursday after Federal Reserve Chair Jerome Powell warned of the risk of slowing growth and rising prices due to tariffs, while the uncertainty around U.S. trade policies kept the dollar rooted near three-year lows.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices extended gains on Thursday on the prospect of tighter supply after Washington imposed further sanctions to curb Iranian oil trade and as some OPEC producers pledged more output cuts to compensate for pumping above agreed quotas.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>South African assets firmed on Wednesday as uncertainty around U.S. tariffs lifted gold prices to record highs and depressed the dollar.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>The Kenyan shilling was marginally stronger against the dollar on Wednesday, LSEG data showed.</p>



<h2 class="wp-block-heading" id="h-kenya-banking">KENYA BANKING</h2>



<p>The Central Bank of Kenya (CBK) will lift a decade-long moratorium on licensing new commercial banks on July 1, it said on Wednesday.</p>



<h2 class="wp-block-heading" id="h-kenya-roads-funding">KENYA ROADS FUNDING</h2>



<p>Kenya has received $600 million in short-term financing from commercial banks, backed by the country&#8217;s fuel levy collections from motorists, the finance minister said on Wednesday, to fund construction of roads in the face of budgetary constraints.</p>



<h2 class="wp-block-heading" id="h-mali-economy">MALI ECONOMY</h2>



<p>The IMF on Wednesday said it would release $129 million to Mali from its Rapid Credit Facility that will help the country address balance of payment needs following floods there.</p>



<h2 class="wp-block-heading" id="h-gambia-economy">GAMBIA ECONOMY</h2>



<p>The International Monetary Fund and Gambian authorities reached a staff-level agreement that would give the West African nation access to part of $100.9 mln in funding approved in 2024, the IMF said in a statement.</p>



<h2 class="wp-block-heading" id="h-ghana-mining">GHANA MINING</h2>



<p>Ghana has assumed operational control of Gold Fields&#8217; Damang mine after it rejected an application from the South African company to renew its lease, the government said on Wednesday, breaking a tradition of automatically renewing licenses and calling it a critical step in the country&#8217;s &#8220;economic reset.&#8221;</p>



<h2 class="wp-block-heading" id="h-namibia-central-bank-rate">NAMIBIA CENTRAL BANK RATE</h2>



<p>Namibia&#8217;s central bank held its main interest rate on Wednesday, citing heightened global policy uncertainty as it raised its inflation forecasts for this year and next.</p>



<p>((Compiled by Nairobi Newsroom))</p>



<p></p>


African Markets – Factors to watch on April 17


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1080" height="720" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/N7NTFVJZNNKH5L7JQ3FQOLPYO4.avif" alt="" class="wp-image-610095"/><figcaption class="wp-element-caption">A view shows a PwC Australia logo in Melbourne, Australia, March 24, 2025. REUTERS/Hollie Adams/File Photo</figcaption></figure>



<p>April 16 (Reuters)&nbsp;&#8211;&nbsp;PwC shut operations in nine Sub-Saharan African countries last month following a strategic review, the Big Four accounting firm said, in response to a media report that said the company exited over a dozen countries to avoid scandals.</p>



<p>PwC, which operates as a global network of locally owned partnerships, has shut operations in the Ivory Coast, Gabon, Cameroon, Madagascar, Senegal, the Democratic Republic of Congo (DRC), Congo Republic, Republic of Guinea and Equatorial Guinea, it said in a statement published on its website on March 31.</p>



<p>The accounting firm directed Reuters to the statement in response to queries on a Financial Times article published earlier in the day that said PwC had exited multiple countries that were deemed too small, risky or unprofitable.</p>



<p>The decision came due to mounting differences with local partners, who said they lost over a third of their business in recent years after pressure from PwC&#8217;s global executives to drop risky clients, the FT said, citing people familiar with the matter.</p>



<p>The PwC statement did not give a reason for the move.</p>



<p>The FT report, citing a register of PwC entities and local news reports, said PwC had also cut ties with member firms in Zimbabwe, Malawi and Fiji.</p>



<p>PwC has faced an exodus of clientele and layoffs across countries since last year.</p>



<p>PwC&#8217;s mainland China unit was hit with a $62 million fine and six-month suspension for audit failures related to property developer China Evergrande&#8217;s&nbsp;3333.HK&nbsp;$78 billion fraud.</p>



<p>Last month, Britain fined PwC about $6 million in relation to the audit of Wyelands Bank for financial year 2019.</p>



<p>The firm is working with Saudi Arabia and its sovereign wealth fund to mend relations after the kingdom suspended activities between the $925 billion fund&#8217;s holding company and PwC. ($1 = 0.7531 pounds)</p>



<p>(Reporting by Bipasha Dey, Kanjyik Ghosh and Harshita Meenaktshi in Bengaluru; Editing by Savio D&#8217;Souza and Mrigank Dhaniwala)</p>


N7NTFVJZNNKH5L7JQ3FQOLPYO4

PwC shuts operations in nine African countries


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="549" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/06/7E5H4JHT7JIDHHBALK7PSZDXSI-820x549.jpg" alt="" class="wp-image-425202" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/06/7E5H4JHT7JIDHHBALK7PSZDXSI-820x549.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/7E5H4JHT7JIDHHBALK7PSZDXSI-300x201.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/7E5H4JHT7JIDHHBALK7PSZDXSI-134x90.jpg 134w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/7E5H4JHT7JIDHHBALK7PSZDXSI-768x514.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/7E5H4JHT7JIDHHBALK7PSZDXSI-1536x1028.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/7E5H4JHT7JIDHHBALK7PSZDXSI-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">South African Rand coins are seen in this photo illustration .  REUTERS/Mike Hutchings</figcaption></figure>



<p>JOHANNESBURG, April 16 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand gained on Wednesday as the dollar was shaken by market uncertainty around U.S. tariffs and local investors awaited news on the future of the coalition government.</p>



<p>At 0757 GMT, the rand traded at 18.9425 against the U.S. dollar, about 0.4% stronger than its previous close.</p>



<p>The dollar last traded about 0.7% weaker against a basket of currencies.</p>



<p>U.S. President Donald Trump&#8217;s tariffs have escalated tensions between the U.S. and China, South Africa&#8217;s biggest trading partner, driving uncertainty and hurting the greenback over recent weeks.</p>



<p>&#8220;There has been little change on the tariff front overnight, but the trade war between the US and China continues to escalate,&#8221; said Andre Cilliers, currency strategist at TreasuryONE.</p>



<p>Domestic-focused investors will look to South Africa&#8217;s business confidence index for March at 0930 GMT and retail sales data for February at 1100 GMT, in addition to developments over the country&#8217;s budget impasse.</p>



<p>The two biggest parties in South Africa&#8217;s government of national unity (GNU) have been at odds over a proposed value-added tax hike on May 1.</p>



<p>&#8220;The ZAR&#8217;s near-term recovery has largely played out, but it could extend to any more positive news from the GNU regarding a budget most parties can support,&#8221; said ETM Analytics in a research note.</p>



<p>On the Johannesburg Stock Exchange, the blue-chip Top-40 index was little changed in early deals.</p>



<p>South Africa&#8217;s benchmark 2030 government bond was slightly firmer, with the yield down 1 basis points to 9.21%.</p>



<p>(Reporting by Tannur Anders; Editing by Sharon Singleton)</p>


South African Rand coins are seen in this photo illustration

South African rand gains as dollar slumps on tariff uncertainty


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>NAIROBI, April 16 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Shares fell in Asia on Wednesday as AI darling Nvidia took a hit from U.S. curbs on chip sales to China, highlighting the damage to come in a tit-for-tat global trade war, while gold hit a record and the dollar stayed under pressure.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices edged lower on Wednesday, as shifting U.S. tariff policies fuelled uncertainty, prompting traders to weigh the potential impact of the U.S.-China trade war on economic growth and energy demand.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>The South African rand retreated on Tuesday after the country&#8217;s central bank warned in a biannual review that the scope for monetary policy easing had narrowed because of global economic uncertainty.</p>



<h2 class="wp-block-heading" id="h-nigeria-inflation">NIGERIA INFLATION</h2>



<p>Nigeria&#8217;s headline consumer inflation edged up to 24.23% year-on-year in March from 23.18% in February, its statistics agency said on Tuesday.</p>



<h2 class="wp-block-heading" id="h-nigeria-petroleum">NIGERIA PETROLEUM</h2>



<p>Nigeria plans to establish a national strategic petroleum products stockpile this year to safeguard its economy against disruptions in the international market, the petroleum products regulator said at a press briefing on Tuesday.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>Kenya&#8217;s shilling was little changed against the U.S. dollar on Tuesday, data from the London Stock Exchange Group showed.</p>



<h2 class="wp-block-heading" id="h-tullow-oil-kenya">TULLOW OIL KENYA</h2>



<p>West Africa-focused oil and gas explorer Tullow Oil said on Tuesday it would sell its assets in Kenya to Gulf Energy Ltd for at least $120 million as it works to reduce its debt.</p>



<h2 class="wp-block-heading" id="h-tanzania-politics">TANZANIA POLITICS</h2>



<p>Tanzania&#8217;s main opposition party CHADEMA said on Tuesday its disqualification from elections due later this year was unconstitutional, days after its leader was arrested and charged with treason.</p>



<h2 class="wp-block-heading" id="h-africa-crude-oil">AFRICA CRUDE OIL</h2>



<p>A steep drop in crude oil prices largely due to U.S. President Donald Trump&#8217;s tariffs will squeeze budgets of emerging market oil exporters, analysts said, while the potential economic slowdown could also curb any benefits for importers.</p>



<h2 class="wp-block-heading" id="h-barrick-gold-mali">BARRICK GOLD MALI</h2>



<p>Malian authorities have shut the Canadian miner Barrick Gold&#8217;s office in the capital Bamako over the alleged non-payment of taxes, two sources close to the matter told Reuters, in the latest escalation of a protracted dispute over mining revenues.</p>



<p>((Compiled by Nairobi Newsroom))</p>


African Markets – Factors to watch on April 16


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="5000" height="3333" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/V6NUKK56AFOQRIE7VW57VUR2DU.avif" alt="" class="wp-image-609645"/><figcaption class="wp-element-caption">Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., April 14, 2025. REUTERS/Brendan McDermid/File Photo</figcaption></figure>



<p>LONDON, April 15 (Reuters)&nbsp;&#8211;&nbsp;Global investors have slashed their holdings of U.S. stocks by a record amount in the past two months, a trend that is likely to continue given a record number of managers say they plan to keep cutting their exposure, BofA Global Research said on Tuesday.</p>



<p>Respondents to BofA&#8217;s monthly survey of fund managers were a net 36% underweight U.S. equities, the most in nearly two years, a number that has plunged by 53 percentage points since February, the biggest such fall on their records.</p>



<p>A majority think a trade war that triggers global recession is the biggest risk for markets, according to the survey.</p>



<p>U.S. President Donald Trump&#8217;s aggressive tariff plans have sparked a selloff in U.S. assets, including stocks, the dollar and Treasury bonds. The market rebounded on Monday, but the broad-market S&amp;P 500 index is still down about 8% so far this year.</p>



<p>BofA polled 164 investors with $386 billion of assets under management.</p>



<p>There were further signs of nervousness in the survey, particularly about U.S assets.</p>



<p>A net 42% of investors said they expected a global recession, the most since June 2023 and the fourth-highest level in the past 20 years.</p>



<p>In addition, 73% said they thought the theme of &#8220;U.S. exceptionalism&#8221; has peaked &#8211; the idea has powered markets in recent months &#8211; and relatedly 49% said they thought the most crowded trade in markets was now &#8220;long gold&#8221;, displacing bets on U.S. tech giants for the first time in 24 months.</p>



<p>A net 61% expect the U.S. dollar to depreciate over the next 12 months, the most since May 2006. The currency has tumbled sharply against most others in the past few weeks, with the euro, Japanese yen and Swiss franc all gaining sharply.</p>



<p>(Reporting by Alun John; Editing by Amanda Cooper and Hugh Lawson)</p>


V6NUKK56AFOQRIE7VW57VUR2DU

Global investors dump US stocks at record pace, BofA survey says


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>NAIROBI, April 14 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Wall Street share futures rallied in Asia on Monday after the White House exempted smartphones and computers from &#8220;reciprocal&#8221; U.S. tariffs, though gains were limited as President Donald Trump warned levies were still likely at some point.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices fell on Monday on concerns the escalating trade war between the United States and China would weaken global economic growth and dent fuel demand.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>The South African rand gained ground against a weaker dollar on Friday, but analysts said it remained susceptible to twists in the global trade war and the risk that South Africa&#8217;s coalition government might split.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>The Kenyan shilling weakened slightly on Friday as foreign exchange demand rose in response to uncertainty over U.S. President Donald Trump&#8217;s tariffs, traders said.</p>



<h2 class="wp-block-heading" id="h-kenya-highway-construction">KENYA HIGHWAY CONSTRUCTION</h2>



<p>Kenya will terminate a 1.3-billion euro highway expansion deal with a consortium led by France&#8217;s Vinci SA  with the project expected to go to a Chinese contractor instead, government officials and sources said.</p>



<h2 class="wp-block-heading" id="h-gabon-election">GABON ELECTION</h2>



<p>Brice Oligui Nguema, who led a coup in Gabon in August 2023, won Saturday&#8217;s presidential election with 90.35% of votes cast, according to provisional results, the Central African country&#8217;s interior minister said on Sunday.</p>



<h2 class="wp-block-heading" id="h-tanzania-politics">TANZANIA POLITICS</h2>



<p>Tanzania&#8217;s main opposition party CHADEMA has been disqualified from elections due later this year, a senior election commission official said on Saturday, days after the party&#8217;s leader was charged with treason for allegedly seeking to disrupt the vote.</p>



<h2 class="wp-block-heading" id="h-nigeria-pension">NIGERIA PENSION</h2>



<p>Nigeria&#8217;s pension fund regulator wants to diversify investments with more focus on infrastructure and private equity, a spokesperson said on Friday, a move that could unlock a major new source of capital in Africa&#8217;s most populous nation.</p>



<h2 class="wp-block-heading" id="h-zambia-electricity">ZAMBIA ELECTRICITY</h2>



<p>Zambia will resume construction of a power line linking it to East Africa, creating one of the largest energy markets in the world, a senior World Bank official said on Friday.</p>



<p>((Compiled by Nairobi Newsroom))</p>


African Markets – Factors to watch on April 14


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="573" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/ZGWQ5NVZQJPYVNZ6MYTGC7URE4-820x573.jpg" alt="" class="wp-image-609274" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/ZGWQ5NVZQJPYVNZ6MYTGC7URE4-820x573.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/ZGWQ5NVZQJPYVNZ6MYTGC7URE4-300x210.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/ZGWQ5NVZQJPYVNZ6MYTGC7URE4-129x90.jpg 129w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/ZGWQ5NVZQJPYVNZ6MYTGC7URE4-768x537.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/ZGWQ5NVZQJPYVNZ6MYTGC7URE4-1536x1074.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/ZGWQ5NVZQJPYVNZ6MYTGC7URE4-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">South African President Cyril Ramaphosa answers lawmakers&#8217; questions at the parliament in Cape Town, South Africa, March 11, 2025. REUTERS/Esa Alexander South African President Cyril Ramaphosa answers lawmakers&#8217; questions at the parliament in Cape Town, South Africa, March 11, 2025. REUTERS/Esa Alexander</figcaption></figure>



<p>JOHANNESBURG, April 14 (Reuters)&nbsp;&#8211;&nbsp;For South African beverage company owner, Ndumiso Madlala, the impending value-added tax hike could spell trouble for his small-scale business that makes alcoholic ginger beer and non-alcoholic drinks.</p>



<p>The National Treasury plans to raise VAT by 1-percentage-point over two years from May 1, as part of measures to bolster government revenue. Currently, VAT is set at 15%.</p>



<p>For Madlala, the increase could force him to raise prices or lower margins, both undesirable options for a business like his in a tough economic environment.</p>



<p>&#8220;For us as small guys, you first hit a problem of being competitive on price,&#8221; Madlala told Reuters. &#8220;Big companies can just switch prices at any time, they can reduce their price to drive the volume up. For us, that&#8217;s something that we can&#8217;t do.&#8221;</p>



<p>The VAT increase comes as the South African economy faces several headwinds including a slow recovery following years of unstable electricity supply, domestic political tensions and global trade wars.</p>



<p>Until recently, power cuts had been a drag on South Africa&#8217;s economic growth for more than a decade, escalating costs for businesses as they resorted to alternative energy sources like diesel-run generators.</p>



<p>On top of that, businesses and households are grappling with other rising costs, such as increases in electricity and water tariffs.</p>



<p>While the treasury intends to expand the basket of zero-rated VAT items to shield low-income households from the full impact, some economists argue this may not be enough as the wider population &#8211; including the middle class &#8211; feels the pinch of rising costs.</p>



<p>&#8220;VAT (hikes) are never a good idea… the ones that are going to be hard hit by any increases in VAT are the middle class to the poor,&#8221; said economist Nomahlubi Jakuja.</p>



<p>&#8220;South Africa already has high levels of unemployment&#8230; and then adding an additional tax on daily goods, it decreases the purchasing power of ordinary South Africans,&#8221; she added.</p>



<p>The VAT hike, part of revenue measures in the 2025 budget, has also deepened the schism between the African National Congress and the Democratic Alliance &#8211; partners in government &#8211; threatening to sink South Africa&#8217;s first attempt at coalition rule in its 30-year democratic era.</p>



<p>The pro-business DA, the junior partner in the coalition, voted against the budget and went to court to try to block it.</p>



<p>Despite the uncertainty, Madlala remains optimistic, banking on his business&#8217;s reputation and his popular ginger products.</p>



<p>&#8220;My comfort is the brand that I own, which is Dragonfire Ginger. It&#8217;s one of its kind,&#8221; he said. &#8220;So we find that our loyal base of customers comes back for our products all the time.&#8221;</p>



<p>(Additional reporting by Shafiek Tassiem in Cape Town; Editing by Olivia Kumwenda-Mtambo and Ros Russell)</p>


South African President Cyril Ramaphosa answers lawmakers’ questions at the parliament, in Cape Town

South African businesses on edge as VAT hike looms


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="728" height="487" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand2-1.jpg" alt="" class="wp-image-568119" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand2-1.jpg 728w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand2-1-300x201.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/12/rand2-1-135x90.jpg 135w" sizes="auto, (max-width: 728px) 100vw, 728px" /><figcaption class="wp-element-caption">South African bank notes featuring an image of former South African President Nelson Mandela are displayed at an office in Johannesburg, File. REUTERS/Siphiwe Sibeko</figcaption></figure>



<p>JOHANNESBURG, April 14 (Reuters)&nbsp;&#8211;&nbsp;The South African rand strengthened on Monday, boosted by a news report that the country&#8217;s biggest political party may back down on a plan to raise value-added tax (VAT) and dollar weakness on global markets.</p>



<p>At 0845 GMT, the rand traded at 18.9150 against the dollar, about 1.2% firmer than Friday&#8217;s closing level.</p>



<p>The Sunday Times newspaper reported that the African National Congress (ANC) was likely to drop its insistence on a VAT hike in this year&#8217;s budget after indications that none of the parties it has been talking to would support it.</p>



<p>The ANC has clashed with its main coalition partner, the Democratic Alliance (DA) over the budget&#8217;s proposal to raise VAT by 0.5 percentage points on May 1 and another 0.5 points next year.</p>



<p>The pro-business DA voted against the budget&#8217;s fiscal framework in parliament and is challenging the VAT hike in court, raising investor concern it could quit or be forced from the coalition Government of National Unity (GNU).</p>



<p>Andre Cilliers, currency strategist at TreasuryONE, said scrapping the VAT increase would keep the GNU intact and that prospect was supporting the rand.</p>



<p>The ANC and DA met on Saturday to discuss the impasse. Neither party gave a detailed readout of their talks, but both described them as constructive.</p>



<p>The rand was volatile last week on U.S. President Donald Trump&#8217;s changing tariff policies and local political news.</p>



<p>Trump&#8217;s tariffs have escalated tensions between the U.S. and China, South Africa&#8217;s biggest trading partner.</p>



<p>The dollar last traded down about 0.4% against a basket of currencies.</p>



<p>&#8220;The markets were spooked and confused last week. This is set to continue this week,&#8221; said Adam Phillips, treasury specialist at Umkhulu Treasury.</p>



<p>Shares on the Johannesburg Stock Exchange&#8217;s blue-chip Top-40 index also rose on Monday, trading about 1.6% up.</p>



<p>South Africa&#8217;s benchmark 2030 government bond gained, as the yield fell 9 basis points to 9.215%.</p>



<p>(Reporting by Tannur Anders; Editing by Alexander Winning and Bernadette Baum)</p>



<p></p>


rand2 (1)

South Africa’s rand gains on report ANC may scrap VAT hike


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="747" height="467" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/stock-market.jpg" alt="" class="wp-image-401907" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/stock-market.jpg 747w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/stock-market-300x188.jpg 300w" sizes="auto, (max-width: 747px) 100vw, 747px" /><figcaption class="wp-element-caption">Trading board is showing a crash in stock exchange market. Selective focus. Horizontal composition with copy space.</figcaption></figure>



<p>April 11 (Reuters)&nbsp;&#8211;&nbsp;Most emerging markets stock indexes were set for weekly declines on Friday after asset classes were thrown into disarray by wavering U.S. trade policies, while a tariff standoff between China and Washington escalated.</p>



<p>Beijing increased its tariffs on U.S. imports to 125% on Friday in response to U.S. President Donald Trump&#8217;s decision to hike duties on Chinese goods to 145%, raising the stakes in a trade war that threatens to upend global supply chains.</p>



<p>The offshore yuan slipped 0.1% and was last trading at 7.3 to the dollar &#8211; not far from a record low it hit earlier in the week.</p>



<p>Analysts expect that growth in the world&#8217;s second largest economy could slow in the first quarter, ramping up expectations of fresh stimulus.</p>



<p>Currencies such as the Indian rupee and South African rand ZA pared initial gains, while the Hungarian forint and the Polish zloty depreciated about 1% each against the euro.</p>



<p>Benchmark stock indexes in India and South Africa also cut gains, while Turkish stocks slipped 0.4% and bourses in Hungary and the Czech Republic fell over 1.7% each.</p>



<p>Chinese equity benchmarks had closed higher by about 0.4% before Beijing&#8217;s retaliation, aided by potential state support. The gains of the heavyweight Chinese stocks helped the broader MSCI EM stocks index register a 1.7% rise.</p>



<p>However, the MSCI index was on track for losses for the third straight week and faced its steepest three-week drop since August 2023. Trump&#8217;s 90-day pause on some U.S. levies on world economies took effect&nbsp;in mid-week&nbsp;as he said that multiple countries were looking to negotiate trade deals with the U.S.</p>



<p>His fluctuating trade policies have stirred uncertainty about global assets that saw even traditional safe-haven U.S. Treasury bonds incur sharp declines as investors priced in the likelihood of a global recession.</p>



<p>Analysts also suggested that a weakening of the dollar against the Swiss franc and Japanese yen indicated deteriorating confidence in the U.S. economy.</p>



<p>Markets were watching for any signs that global economies were successfully signing new trade deals during the 90-day pause issued by Trump.</p>



<p>&#8220;Nobody knows exactly what the deals with the various countries will look like, how many countries are really willing to make a deal, and within what period of the 90 days this will happen,&#8221; Commerzbank FX analyst Volkmar Baur said in a note.</p>



<p>&#8220;This is not an environment in which I, as a business decision-maker, would want to plan my supply chains for the future.&#8221;</p>



<p>Vietnam&#8217;s main stock index closed 4.6% higher and the dong inched up 0.2%. A report said the Southeast Asian country, which is heavily dependent on export income, is prepared to crack down on Chinese goods being shipped to the United States via its territory.</p>



<p>Taiwan was looking to negotiate an increase in energy imports from the U.S., while Brazil and Argentina were among the latest looking to engage in trade discussions with Washington.</p>



<p>Investors were also monitoring developments around the International Monetary Fund&#8217;s discussions about a fourth review of its $2.9 billion program with Sri Lanka.</p>



<p>The island nation&#8217;s dollar bonds were down over two cents on the dollar and on track for a weekly drop of 13.9% &#8211; their biggest weekly slide in two months.</p>



<p>Papers of frontier economies have witnessed sharp swings throughout the week as markets priced in an increasing likelihood of widespread debt defaults against an uncertain global backdrop.</p>



<p>(Reporting by Johann M Cherian in Bengaluru; editing by Mark Heinrich)</p>


Trading Board Is Showing A Crash In Stok Exchange Market

EMERGING MARKETS-Stocks set for weekly declines as US-China trade war


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/5KGMLDAKZZPMZBFLD6IPJ2HQA4-820x547.jpg" alt="" class="wp-image-608265" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/5KGMLDAKZZPMZBFLD6IPJ2HQA4-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/5KGMLDAKZZPMZBFLD6IPJ2HQA4-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/5KGMLDAKZZPMZBFLD6IPJ2HQA4-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/5KGMLDAKZZPMZBFLD6IPJ2HQA4-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/5KGMLDAKZZPMZBFLD6IPJ2HQA4.jpg 1200w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A cargo ship sits outside of the Port of Elizabeth marine terminal seen from Bayonne, New Jersey, U.S., April 9 2025. REUTERS/Shannon Stapleton/File Photo</figcaption></figure>



<p>GENEVA, April 11 (Reuters) &#8211; Sweeping tariffs on imports imposed by U.S. President Donald Trump and countermeasures could have a &#8220;catastrophic&#8221; impact on developing countries, hitting even harder than foreign aid cuts, the director of the United Nations trade agency said on Friday.</p>



<p>Global trade could shrink by 3-7% and global gross domestic product by 0.7%, with developing countries the worst affected, the International Trade Centre said.</p>



<p>&#8220;It is huge,&#8221; Pamela Coke-Hamilton, executive director of the International Trade Centre, told Reuters. &#8220;If this escalation between China and the U.S. continues it will result in an 80% reduction in trade between the countries, and the ripple effect of that across the board can be catastrophic.&#8221;</p>



<p>Global markets remained in turmoil on Friday. Trump this week announced a 90-day tariff pause on dozens of countries but hiked the duties on Chinese goods to an effective rate of 145%. On Friday, Beijing increased its tariffs on U.S. imports to 125% in a trade war that threatens to up-end global supply chains.</p>



<p>&#8220;Tariffs could have a much more harmful impact than the removal of foreign aid,&#8221; Coke-Hamilton said, warning that developing economies risk sliding back on the economic gains they made in recent years.</p>



<p>Some of the world&#8217;s least developed countries, including Lesotho, Cambodia, Laos, Madagascar and Myanmar, may look to improve regional trade relations to absorb the loss of some of the U.S. market for their exports, the ITC&nbsp;said.</p>



<p>Bangladesh, the world’s second largest apparel exporter, could lose $3.3 billion in annual exports to the U.S. by 2029 if the U.S. tariff of 37% stays after the pause, ITC data found. It may look to European markets as an alternative as they still hold growth potential, Coke-Hamilton suggested.</p>



<p>The projections by the International Trade Centre, the joint agency of the World Trade Organization and the United Nations, which seeks to help countries develop through exports, are based on data it gathered before Trump&#8217;s 90-day pause and subsequent hikes on duties on Chinese imports.</p>



<p>(Reporting by Olivia Le Poidevin; Editing by Friederike Heine, Ludwig Burger and Frances Kerry)</p>


5KGMLDAKZZPMZBFLD6IPJ2HQA4

Impact of tariffs on developing countries could be ‘catastrophic’, says UN trade agency


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>April 11 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Global stocks slumped and the dollar sank further on Friday, while a manic bond selloff took hold in a brutal end to the week of tit-for-tat worldwide tariffs that have fed fears of a deep recession and shaken investor confidence in U.S. assets.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices fell on Friday and were set to drop for a second week on concerns prolonged trade war between the United States and China, the world&#8217;s largest economies, will crush crude consumption as their dispute curtails economic growth.</p>



<h2 class="wp-block-heading" id="h-africa-markets">AFRICA MARKETS</h2>



<p>The Nigerian and Ghanaian currencies are expected to be broadly stable in the next week to Thursday thanks to central bank support, while the Ugandan and Zambian currencies could fall, traders said.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>South Africa&#8217;s rand stumbled on Thursday on global market jitters while stocks jumped, as investors digested U.S. President Donald Trump&#8217;s announcement of an immediate 90-day tariff pause for many countries.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>Kenya&#8217;s shilling gained ground against the dollar on Thursday, after U.S. President Donald Trump&#8217;s unexpected decision to temporarily suspend most of his recently imposed tariffs, traders said.</p>



<h2 class="wp-block-heading" id="h-sudan-genocide">SUDAN GENOCIDE</h2>



<p>Sudan told the International Court of Justice on Thursday that the United Arab Emirates was violating the Genocide Convention by supporting paramilitary forces in Darfur, but the UAE argued the case should be thrown out as the court lacked jurisdiction.</p>



<h2 class="wp-block-heading" id="h-us-aid">US AID</h2>



<p>President Donald Trump&#8217;s administration wants the U.N. World Food Programme to modify operations backed by the U.S. in six countries, a State Department spokesperson said on Wednesday, after Washington terminated and then reinstated the assistance.</p>



<h2 class="wp-block-heading" id="h-tanzania-politics">TANZANIA POLITICS</h2>



<p>Tanzanian opposition party leader Tundu Lissu was on Thursday charged with treason, a capital offence, for comments he made last week that prosecutors said called on the public to launch a rebellion and disrupt an election due this year.</p>



<p>((Compiled by Nairobi Newsroom))</p>


African Markets – Factors to watch on April 11


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="593" src="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/GMDZRSA6BRKDPKJ2BPS5RJ25YA-820x593.jpg" alt="" class="wp-image-607969" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2025/04/GMDZRSA6BRKDPKJ2BPS5RJ25YA-820x593.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/GMDZRSA6BRKDPKJ2BPS5RJ25YA-300x217.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/GMDZRSA6BRKDPKJ2BPS5RJ25YA-124x90.jpg 124w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/GMDZRSA6BRKDPKJ2BPS5RJ25YA-768x556.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/GMDZRSA6BRKDPKJ2BPS5RJ25YA-1536x1111.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2025/04/GMDZRSA6BRKDPKJ2BPS5RJ25YA-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">The Fitch Ratings logo is seen at their offices at Canary Wharf financial district in London,Britain, March 3, 2016.  REUTERS/Reinhard Krause</figcaption></figure>



<p>JOHANNESBURG, April 10 (Reuters)&nbsp;&#8211;&nbsp;Pressure from U.S. aid freezes and global trade tension is unlikely to result in widescale credit downgrades in Africa, Fitch Ratings said on Thursday.</p>



<p>The impact of tariffs on Africa is limited, Fitch said, due to the region&#8217;s export composition and weaker integration into global supply chains compared to a region such as Asia.</p>



<p>But Sub-Saharan Africa has been one of the largest recipients of funds disbursed by the United States Agency for International Development (USAID) which was frozen by executive order of U.S. President Donald Trump.</p>



<p>Nonetheless, South Africa, Namibia and Ivory Coast remain relatively shielded from recent events, Paul Gamble, head of Middle East/Africa in Fitch’s Sovereign Ratings Group, said.</p>



<p>And Nigeria and the Seychelles both hold positive credit outlooks from Fitch Ratings &#8211; an indication that a rating is expected to be raised in the future &#8211; thanks to ongoing reforms, he told a webinar.</p>



<p>&#8220;The reforms that we&#8217;ve seen really put the region in a better position to absorb some of these shocks,&#8221; Gamble.</p>



<p>&#8220;The impact for the ratings looks manageable.&#8221;</p>



<p>However, the freeze on U.S. foreign aid was not without negative consequences, Fitch said.</p>



<p>Some of the poorest nations were at risk for having projects come to an abrupt end and would see fiscal stability come under pressure. Ethiopia received U.S. assistance worth around 80% of its foreign exchange reserves, with Mozambique, Uganda, and Lesotho also seen at risk.</p>



<p>&#8220;African-owned multilateral banks might become more important institutions in this shifting landscape,&#8221; Arnaud Louis, senior director at Fitch, said on the webinar.</p>



<p>Gamble also pointed to Washington&#8217;s pivot to strategic investments in minerals in Africa as potentially becoming a new sphere for the trade tensions as it could intensify competition on the continent with China.</p>



<p>&#8220;Africa will be a playing field for U.S.-China tensions,&#8221; said Gamble. The U.S. interest is becoming &#8220;more opportunistic, transactional&#8221; focusing on access to minerals and rare earths rather than broad-based development, he said.</p>



<p>The Trump administration has said it wants to invest billions of dollars in the Democratic Republic of Congo. Congo&#8217;s minerals, which are used in mobile phones and electric cars, are currently dominated by China and its mining companies.</p>



<p>(Reporting by Colleen Goko; Editing by Alison Williams)</p>


The Fitch Ratings logo is seen at their offices at Canary Wharf financial district in London

African credit ratings can absorb aid cuts and trade strains, Fitch says


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1365" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/01/A6RAHQABDRIGTJNVXZ2UH7TGEQ-scaled.jpg" alt="" class="wp-image-451705" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/01/A6RAHQABDRIGTJNVXZ2UH7TGEQ-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/01/A6RAHQABDRIGTJNVXZ2UH7TGEQ-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/01/A6RAHQABDRIGTJNVXZ2UH7TGEQ-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/01/A6RAHQABDRIGTJNVXZ2UH7TGEQ-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/01/A6RAHQABDRIGTJNVXZ2UH7TGEQ-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/01/A6RAHQABDRIGTJNVXZ2UH7TGEQ-1536x1024.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">The headquarters of the African Development Bank (AfDB) are pictured in Abidjan, Ivory Coast, January 30, 2020.REUTERS/Luc Gnago</figcaption></figure>



<p>The United Kingdom says it looks forward to the election of a new leader at the African Development Bank (AfDB) as Akinwumi Adesina’s 10-year tenure ends.</p>



<p>However a spokesperson didn’t say if the country had a particular preference for any of the five candidates vying to lead the Abidjan, Cote D’Ivoire headquartered AfDB, Africa’s biggest development finance bank.</p>



<p>“The selection of the President is important to the Bank’s success and therefore is of key interest to the UK,’’ a spokesperson said in an emailed response to CNBC Africa. “Ultimately, we&nbsp;believe that the selection of this role is a decision for the African region to make collectively. We look forward to continuing to work with the Bank and the next President when their tenure starts next September.”</p>



<p>Ex-World Bank senior official Samuel Maimbo of Zambia is taking on Senegal’s Amadou Hott, ex-special envoy of the bank’s Alliance for Green Infrastructure in Africa, South Africa’s Swazi Tshabalala, a former Vice President, Mauritania’s Sidi Ould Tah, former Director General of the Arab Bank for Economic Development in Africa and Chad’s former Finance Minister Mahamat Tolli.</p>



<p>To win the presidency, a candidate must get a majority of votes from both the African shareholders who own 60 percent of the bank, and non-African shareholders, who are referred to as non-regional members, who control 40%.</p>



<p>Adesina, a former Nigerian agriculture minister, championed Africa’s agriculture as a unique investment opportunity during his term. He also focussed on providing power to the more than 600 million Africans still without electricity, launching an $8 billion project together with the World Bank in January.</p>



<p>The AfDB, the only African financial institution rated triple A by Moody’s, Standard &amp; Poor’s and Fitch, will select the new leader next month.</p>



<p>Its top five shareholders are Nigeria with 8.2%, followed by the United States at 6.6%, Egypt has 5.6% while Japan owns 5.5% and South Africa holds 5.1%.</p>


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